Common use of Timeliness of Payment Clause in Contracts

Timeliness of Payment. All undisputed amounts in invoices under this Agreement shall be due and payable in accordance with each Party’s invoice instructions on or before the later of the 20th day of each month, or the 10th day after receipt of the invoice, or, if such day is not a Business Day, then on the next Business Day. Each Party will make payments by electronic funds transfer, or by other mutually agreeable methods, to the account designated by the other Party. Any amounts not paid by the due date will be deemed delinquent and will accrue interest at the Default Rate, such interest to be calculated from and including the due date to but excluding the date the delinquent amount is paid in full. Disputes and Adjustments of Invoices. A Party may, in good faith, dispute the correctness of any invoice, or any adjustment to an invoice rendered under this Agreement or adjust any invoice for any arithmetic or computational error, within 24 months of the date of invoice or adjustment. Any dispute with respect to an invoice is waived unless the other Party receives Notice under this Section 10.3 within 24 months after the invoice is rendered or any specific adjustment to the invoice is made. In the event an invoice or portion thereof, or any other claim or adjustment arising hereunder, is disputed, payment of the undisputed portion of the invoice shall be required to be made when due, with Notice of the objection given to the other Party. Any invoice dispute or invoice adjustment shall be in writing and shall state the basis for the dispute or adjustment. Payment of the disputed amount shall not be required until the dispute is resolved. Upon resolution of the dispute, any required payment shall be made within two (2) Business Days of such resolution along with interest accrued at the Default Rate from and including the due date to but excluding the date paid. Inadvertent overpayments shall be returned upon request or deducted by the Party receiving such overpayment from subsequent payments, with interest accrued at the Default Rate from and including the date of such overpayment to but excluding the date repaid or deducted by the Party receiving such overpayment.

Timeliness of Payment. All undisputed amounts in invoices under this Agreement shall be due and payable in accordance with each Party’s invoice instructions on or before the later of the 20th day of each month, or the 10th day after receipt of the invoice, or, if such day is not a Business Day, then on the next Business Day. Each Party will make payments by electronic funds transfer, or by other mutually agreeable methods, to the account designated by the other Party. Any amounts not paid by the due date will be deemed delinquent and will accrue interest at the Default Rate, such interest to be calculated from and including the due date to but excluding the date the delinquent amount is paid in full. Disputes and Adjustments of Invoices. A Party may, in good faith, dispute the correctness of any invoice, or any adjustment to an invoice rendered under this Agreement or adjust any invoice for any arithmetic or computational error, within 24 months of the date of invoice or adjustment. Any dispute with respect to an invoice is waived unless the other Party receives Notice under this Section 10.3 within 24 months after the invoice is rendered or any specific adjustment to the invoice is made. In the event an invoice or portion thereof, or any other claim or adjustment arising hereunder, is disputed, payment of the undisputed portion of the invoice shall be required to be made when due, with Notice of the objection given to the other Party. Any invoice dispute or invoice adjustment shall be in writing and shall state the basis for the dispute or adjustment. Payment of the disputed amount shall not be required until the dispute is resolved. Upon resolution of the dispute, any required payment shall be made within two (2) Business Days of such resolution along with interest accrued at the Default Rate from and including the due date to but excluding the date paid. Inadvertent overpayments shall be returned upon written request (the “Overpayment Notice”) or deducted by the Party receiving such overpayment from subsequent payments, with interest accrued at the Default Rate from and including the date that is two (2) Business Days following receipt of such overpayment an Overpayment Notice to but excluding the date repaid or deducted by the Party receiving such overpayment.

Timeliness of Payment. All undisputed amounts in invoices under this Agreement charges shall be due and payable in accordance with each Party’s invoice instructions on or before the later of the 20th day of each month, or the 10th day after (x) fifteen (15) days from receipt of the invoice, or, applicable invoice or (y) the last day of the calendar month in which the applicable invoice was received (or in either event the next Business Day if such day is not a Business Day, then on the next Business Day). Each Party will shall make payments by electronic funds transfer, or by other mutually agreeable methodsmethod(s), to the account designated by the other Party. Any undisputed amounts not paid by the due date will shall be deemed delinquent and will shall accrue interest at the Default Late Payment Rate, such interest to be calculated from and including the due date to to, but excluding excluding, the date the delinquent amount is paid in full. full.‌ Disputes and Adjustments of Invoices. A Party may, in good faith, dispute the correctness of any invoice, or any adjustment to an invoice All invoices rendered under this Agreement shall be subject to adjustment after the end of each month in order to true-up charges based on changes resulting from ISO-NE billing statements or revisions, if any, to previous ISO-NE billing statements. If ISO- NE resettles any invoice which relates to the Products sold under this Agreement and (a) any charges thereunder are the responsibility of the other Party under this Agreement or (b) any credits issued thereunder would be due to the other Party under this Agreement, then the Party receiving the invoice from ISO-NE shall in the case of (a) above invoice the other Party or in the case of (b) above pay the amount due to the other Party. Any invoices issued or amounts due pursuant to this Section shall be invoiced or paid as provided in this Section 5.2. Within twelve (12) months of the issuance of an invoice the Seller shall adjust any invoice for any arithmetic or computational error, within 24 error and shall provide documentation and information supporting such adjustment to Buyer. Within twelve (12) months of the date receipt of invoice or adjustment. Any dispute with respect to an invoice is waived unless (or an adjusted invoice), the other Party receives Notice under this Section 10.3 within 24 months after the invoice is rendered or Buyer may dispute any specific adjustment to the invoice is madecharges on that invoice. In the event an invoice or portion thereofof such a dispute, or any other claim or adjustment arising hereunder, is disputed, payment of the undisputed portion of the invoice Buyer shall be required to be made when due, with Notice of the objection given give notice to the other Party. Any invoice dispute or invoice adjustment shall be in writing Seller and shall state the basis for the dispute or adjustmentdispute. Payment of the disputed amount shall not be required until the dispute is resolved. Upon resolution of the dispute, any required payment or refund shall be made within two ten (210) Business Days days of such resolution along with interest accrued at the Default Late Payment Rate from and including the due date to (or in the case of a refund, the payment date) but excluding the date paid. Inadvertent overpayments shall be returned upon request Any claim for additional payment is waived unless the Seller issues an adjusted invoice within twelve (12) months of issuance of the original invoice. Any dispute of charges is waived unless the Buyer provides notice of the dispute to the Seller within twelve (12) months of receipt of the invoice (or deducted by the Party receiving adjusted invoice) including such overpayment from subsequent payments, with interest accrued at the Default Rate from and including the date of such overpayment to but excluding the date repaid or deducted by the Party receiving such overpaymentcharges.

Timeliness of Payment. All undisputed amounts in invoices under this Agreement charges shall be due and payable in accordance with each Party’s invoice instructions on or before the later of the 20th day of each month, or the 10th day after (x) fifteen (15) days from receipt of the invoice, or, applicable invoice or (y) the last day of the calendar month in which the applicable invoice was received (or in either event the next Business Day if such day is not a Business Day, then on the next Business Day). Each Party will shall make payments by electronic funds transfer, or by other mutually agreeable methodsmethod(s), to the account designated by the other Party. Any undisputed amounts not paid by the due date will shall be deemed delinquent and will shall accrue interest at the Default Late Payment Rate, such interest to be calculated from and including the due date to to, but excluding excluding, the date the delinquent amount is paid in full. Disputes and Adjustments of Invoices. A Party may, in good faith, dispute the correctness of any invoice, or any adjustment to an invoice All invoices rendered under this Agreement shall be subject to adjustment after the end of each month in order to true-up charges based on changes resulting from ISO-NE billing statements or revisions, if any, to previous ISO-NE billing statements. If ISO- NE resettles any invoice which relates to the Products sold under this Agreement and (a) any charges thereunder are the responsibility of the other Party under this Agreement or (b) any credits issued thereunder would be due to the other Party under this Agreement, then the Party receiving the invoice from ISO-NE shall in the case of (a) above invoice the other Party or in the case of (b) above pay the amount due to the other Party. Any invoices issued or amounts due pursuant to this Section shall be invoiced or paid as provided in this Section 5.2. Within twelve (12) months of the issuance of an invoice the Seller shall adjust any invoice for any arithmetic or computational error, within 24 error and shall provide documentation and information supporting such adjustment to Buyer. Within twelve (12) months of the date receipt of invoice or adjustment. Any dispute with respect to an invoice is waived unless (or an adjusted invoice), the other Party receives Notice under this Section 10.3 within 24 months after the invoice is rendered or Buyer may dispute any specific adjustment to the invoice is madecharges on that invoice. In the event an invoice or portion thereofof such a dispute, or any other claim or adjustment arising hereunder, is disputed, payment of the undisputed portion of the invoice Buyer shall be required to be made when due, with Notice of the objection given give notice to the other Party. Any invoice dispute or invoice adjustment shall be in writing Seller and shall state the basis for the dispute or adjustmentdispute. Payment of the disputed amount shall not be required until the dispute is resolved. Upon resolution of the dispute, any required payment or refund shall be made within two ten (210) Business Days days of such resolution along with interest accrued at the Default Late Payment Rate from and including the due date to (or in the case of a refund, the payment date) but excluding the date paid. Inadvertent overpayments shall be returned upon request Any claim for additional payment is waived unless the Seller issues an adjusted invoice within twelve (12) months of issuance of the original invoice. Any dispute of charges is waived unless the Buyer provides notice of the dispute to the Seller within twelve (12) months of receipt of the invoice (or deducted by the Party receiving adjusted invoice) including such overpayment from subsequent payments, with interest accrued at the Default Rate from and including the date of such overpayment to but excluding the date repaid or deducted by the Party receiving such overpaymentcharges.